Serge Belanger, an analyst from Needham, maintained the Buy rating on Cormedix. The associated price target remains the same with $20.00.
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Serge Belanger has given his Buy rating due to a combination of factors that highlight Cormedix’s positive outlook. The company has recently updated its 2025 sales guidance for DefenCath, increasing expectations to a range of $200 million to $215 million, which reflects improved performance in their non-LDO business. This upward revision indicates strong market demand and potential revenue growth.
Additionally, Cormedix’s strategic initiatives, such as the acquisition of Melinta and the equity investment in Talphera, are expected to enhance their portfolio and create synergies. The anticipated annual run-rate synergies of $35 million to $45 million and the potential for double-digit transaction accretion by 2026 further support the company’s growth prospects. These factors, combined with the diversification of their product offerings, underpin the Buy rating and the $20 price target set by Serge Belanger.
In another report released on September 9, Citizens JMP also reiterated a Buy rating on the stock with a $22.00 price target.